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Jan 24, 2013
01/13
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we know the consumer confidence took a six-month hit because of the debt ceiling fight. so, to take that off the table as a big washington fight helps a lot, i think. >> certainly, the markets, a lot of people pointing to one reason, you have had a pretty nice string of gains here that debate, at least the deadline pushed back a bit. where does the conversation now begin when it comes to real reform? who instigate it is and how constructive do you think it's going to be? >> i think we can build upon some of the previous efforts. we had an agreement in 2011 which allowed us to reduce spending and we can do that again. at the end to of this year so the called fiscal cliff deal i think was further evidence when you get 89 united states senators voting for that end of the year agree respect, the deal was perfect and had all kinds of frustrations associated with it, but we have to keep building upon what is some good developments in bipartisan consensus. i can't speak to the house but i think there is a willingness on both sides senate to build on those efforts. >> what do yo
we know the consumer confidence took a six-month hit because of the debt ceiling fight. so, to take that off the table as a big washington fight helps a lot, i think. >> certainly, the markets, a lot of people pointing to one reason, you have had a pretty nice string of gains here that debate, at least the deadline pushed back a bit. where does the conversation now begin when it comes to real reform? who instigate it is and how constructive do you think it's going to be? >> i think...
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Jan 4, 2013
01/13
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CNBC
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. >> is the debt ceiling conversation absurd? this is my point. a lot of people feel that the whole ideas of not raising the debt ceiling and not paying obligations is extremely absurd. >> the intention of the debt seal ceiling is to control the amount of spending we do in the country. there's a whole strategic reason to have it. sorry, joe, we got to go. >> even if that's true, we may not -- >> the man in my head is yelling at me. >> thanks, joe. >> as the first week goes, so goes the year. >> the dow today up 43 points. the nasdaq and s&p at a five-year high. that does it for "closing bell." have a great weekend. "options action" starts right now. >> this is "options action." tonight money in the bank. finally soar in the new year. miss the rally, fear not. there's a trade in citigroup that could make you money if the stock goes up, down, or nowhere at all. plus heavy metals, gold and silver see their worst week in eight years. carter and kos say the pain is just starting, it will you where they see them heading next. and retail has been a wreck
. >> is the debt ceiling conversation absurd? this is my point. a lot of people feel that the whole ideas of not raising the debt ceiling and not paying obligations is extremely absurd. >> the intention of the debt seal ceiling is to control the amount of spending we do in the country. there's a whole strategic reason to have it. sorry, joe, we got to go. >> even if that's true, we may not -- >> the man in my head is yelling at me. >> thanks, joe. >> as the...
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Oct 16, 2013
10/13
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ALJAZAM
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. >> january 15th, the government is funded until that point, february 7th is the new debt ceiling deadline. are we confident that this will pass the senate and clear the house? [ laughter ] >> reporter: well, i can say -- not that we have a horse in this game, dell, but anything can happen here, but, yes, it's looking like this will go forward, so -- because we're hearing from leader mitch mcconnell, the top republican in the senate that he is green lighting this. we have done our own headcount of members of the republican party in the senate, and enough of them are supporting it, so we have got that. the question was always would it be able to pass through the house, and as long as speaker boehner is willing to let it go to the floor for a vote, it does look like it will pass. so it looks like the u.s. will be able to get this done and not hit that milestone marker which would be, of course, unprecedented. i can't promise you anything, dell, but it looks like things are really moving forward you. >> libby casey, once again the situation on capitol hill appears that finally there has been
. >> january 15th, the government is funded until that point, february 7th is the new debt ceiling deadline. are we confident that this will pass the senate and clear the house? [ laughter ] >> reporter: well, i can say -- not that we have a horse in this game, dell, but anything can happen here, but, yes, it's looking like this will go forward, so -- because we're hearing from leader mitch mcconnell, the top republican in the senate that he is green lighting this. we have done our...
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Jan 6, 2013
01/13
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CNBC
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at this point, q-4, there's a couple things there. there's sandy and debt ceiling. we'll see corporate management refer to those two things a lot. but forward guidance. this is what stocks will trade on. we'll know quickly what that looks like for the first half of the year. >> one quick point about the vix statistic. it can be deceptive. when the vix is relatively low, 16, 17, and declines to 14, that seems like a big move. take a look at one of the data points there. looking at october of 1987, that was when we had a market crash, one of the largest ones ever. so seeing a significant outperformance of the market coming off the heels of that, not really what we're looking at. we're not in the same position that we were in late october of 1987 today. we're coming off a rally, not market crash. >> i know the year is young, but what led us higher last year are primarily leading us higher this year. financials and housing up 4%. specifically for financials, there have been so many analysts coming out this week specifically getting bullish on finances, upgrading the lik
at this point, q-4, there's a couple things there. there's sandy and debt ceiling. we'll see corporate management refer to those two things a lot. but forward guidance. this is what stocks will trade on. we'll know quickly what that looks like for the first half of the year. >> one quick point about the vix statistic. it can be deceptive. when the vix is relatively low, 16, 17, and declines to 14, that seems like a big move. take a look at one of the data points there. looking at october...
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Jan 15, 2013
01/13
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FBC
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out he voted against raising the debt ceiling. suddenly the table has turned. if he was smart he would be more conciliatory to republicans instead of on-duty challenging them. gerri: far from it. the president says the responsible thing to do. making a like the republicans still want to do anything responsible for are not concerned about the nation's debt. what would be the consequences of letting the debt ceiling just -- not paying any attention to it? would it be hazardous? is this going to be something bad for the country? >> not necessarily. gerri: let's let brad answered. >> what happens is overnight the government has to go to a balanced budget. consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spendi
out he voted against raising the debt ceiling. suddenly the table has turned. if he was smart he would be more conciliatory to republicans instead of on-duty challenging them. gerri: far from it. the president says the responsible thing to do. making a like the republicans still want to do anything responsible for are not concerned about the nation's debt. what would be the consequences of letting the debt ceiling just -- not paying any attention to it? would it be hazardous? is this going to...
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Jan 11, 2013
01/13
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FBC
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gerri: you bring a degree point because the first time we had the debt ceiling issue, which is the one now looming in congress, we saved 2,000 points of the stock market. it did not last, thankfully, but it was scary. it may allow the people uneasy. we will -- will leave be in for the same type of problem if we get right up to that deadline and no agreement? >> yes. yes. and that is why we are all annoyed and hopeful that congress will learn a lesson and not do a test again because all they're doing getting in our way causing a lot of banks and warrior necessarily for the american public and investors or a wide. gerri: a broader question. you're a smart guy and you watch all this stuff. one of the things the we're waiting for, listening tour, s&p, moody's, downgrade are dead again, what will happen? we will be the ramifications? how will that hit individual investor portfolios? >> there is a risk that traditionally when they're is a downgrade of a bond rating the value of the bond goes down as well, which means if you own u.s. government securities you're going to suffer a loss of valu
gerri: you bring a degree point because the first time we had the debt ceiling issue, which is the one now looming in congress, we saved 2,000 points of the stock market. it did not last, thankfully, but it was scary. it may allow the people uneasy. we will -- will leave be in for the same type of problem if we get right up to that deadline and no agreement? >> yes. yes. and that is why we are all annoyed and hopeful that congress will learn a lesson and not do a test again because all...
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gerri: to tht point, we have the debt ceiling looming. if we were to find a solution for the debt ceiling from whether it makes democrats or republicans happy, we have some kind of resolution on the fiscal cliff. if we were to do the debt ceiling and take care of sequestration, do you think employers will start hiing? >> the best we could do would be to come up with a credible long-term plan. gerri: credible long-term plan on capitol hill and the white hoe. are you kidding? >> u.s. you're right. the problem here is, between now and the end of february is everyone goin to say, well, here is a we need to do? are they going to agree on it? the republicans, i think, have corrected said we have done something on taxes. we raised it for everybody who works to raise taxes for those nasty rich folk. now cut spending in order to get on a gravel path to reduce he deficit. >> we enacted the greast tax cut in american history. 25 million new jobs. the american economy had confidence in president reagan. in what direction was going to be. that is what
gerri: to tht point, we have the debt ceiling looming. if we were to find a solution for the debt ceiling from whether it makes democrats or republicans happy, we have some kind of resolution on the fiscal cliff. if we were to do the debt ceiling and take care of sequestration, do you think employers will start hiing? >> the best we could do would be to come up with a credible long-term plan. gerri: credible long-term plan on capitol hill and the white hoe. are you kidding? >> u.s....
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Jan 7, 2013
01/13
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ceiling fight -- ♪ >> or potential chaos overseas. just -- or just the overall sense that our economy isn't creating the jobs we thought it would. [ heartbeat ] >> this show i thought it would be important to have big themes to fall back on. rising tides that could lift all of their boat at least in the sector because we know that we've begun 2013 the way we ended 2012 -- with the endless assault of washington upon our stock market -- ♪ >> house of pain! >> plus, you also have to deal with the intellectually lazy talking heads who pontificate about things like risk on, risk off. i actually heard it today maybe four times, which is merely genuine wall street gibberish. and i did trade and invest for a living professionally that gets to fine opportunities for you. these dopes are looking at the world through some weird binary lens. a lens that says every day we're supposed to train the s&p futures, yeah. >> sell, sell, sell -- >> buy, buy, buy -- >> the long side, the short side. slang for we have to be bulls or britney spears -- or b
ceiling fight -- ♪ >> or potential chaos overseas. just -- or just the overall sense that our economy isn't creating the jobs we thought it would. [ heartbeat ] >> this show i thought it would be important to have big themes to fall back on. rising tides that could lift all of their boat at least in the sector because we know that we've begun 2013 the way we ended 2012 -- with the endless assault of washington upon our stock market -- ♪ >> house of pain! >> plus, you...
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Oct 16, 2013
10/13
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FOXNEWSW
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february 7th is the next debt ceiling point in this. that's key. and in between there is going to be negotiations on trying to get a handle on this bigger chunk of federal spending. those are entitlements. medicare, medicaid, and social security. they have never fully addressed those and that's the one saving grace that a lot of republicans are saying maybe they can can finally get agreement on this. you mentioned sequestration a few minutes ago. sequestration with the money congress approves and cut that almost to the quick. if they're ever actually going to get a handle on all this spending it, has to come what they call the mandatory spending pie entitlements. that's toxic to touch. hey are you touching my medicare. >> but it is a three month kick the can down the road. chad pergram, thank you very much. >>> stocks surging right from the get-go as word of this senate deal got out. the dow finishing up triple digits to fox business network sandra smith and what is shaping up to be, dare i say it, hog heaven for traders, sandra? >> indeed hog heav
february 7th is the next debt ceiling point in this. that's key. and in between there is going to be negotiations on trying to get a handle on this bigger chunk of federal spending. those are entitlements. medicare, medicaid, and social security. they have never fully addressed those and that's the one saving grace that a lot of republicans are saying maybe they can can finally get agreement on this. you mentioned sequestration a few minutes ago. sequestration with the money congress approves...
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Jan 18, 2013
01/13
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david: house congressional leaders announcing today that they will vote on a debt ceiling bill next week that will include at least a short-term extension. liz: rich edson live at the house republican annual retreat which is in williamsburg virginia with the very latest. rich? rich: liz and david, a three month extension, that's what they are discussing. this is a result of three day meeting here, the republican retreat in williamsburg virginia. this is the bill that the house will vote on next week, a three month debt ceiling increase and debt ceiling increase is contingent on the house and senate passing a budget. the senate hasn't actually passed a budget in years. the bill also withholds congressional pay without congress passing a budget. the one problem with this for a number of republicans, there really are no other spending cuts in this. remember the boehner rule dubbed the boehner rule says any increase in the debt ceiling must correspond to equal amounts in spending cuts. >> not quite the same reaction from house minority leader nancy pelosi saying: >> so the republicans are ta
david: house congressional leaders announcing today that they will vote on a debt ceiling bill next week that will include at least a short-term extension. liz: rich edson live at the house republican annual retreat which is in williamsburg virginia with the very latest. rich? rich: liz and david, a three month extension, that's what they are discussing. this is a result of three day meeting here, the republican retreat in williamsburg virginia. this is the bill that the house will vote on next...
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Oct 15, 2013
10/13
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ALJAZAM
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as they indicated that they believed there would not be a debt ceiling surpassed those numbers began to drop to where we are right now. that effects you and your packet book. that is your 401k. once again the house speaker saying we may be beginning to see some light at the end of the tunnel. we'll be right back. [[voiceover]] every day, events sweep across our country. and with them, a storm of views. how can you fully understand the impact unless you've heard angles you hadn't considered? antonio mora brings you smart conversation that challenges the status quo with unexpected opinions and a fresh outlook. including yours. >>> as we mentioned before that republican news conference, the suspected leader of al-qaeda recently captured in libya is set to appear inside a new york city courtroom later today. a grand jury indicted him for the u.s. embassy bombings in kenya and tanzania. jonathan how big of a moment is this for federal prosecutors? >> reporter: dell, it's certainly a big catch for the justice department. he was on the most-wanted list for years. there was a $5 million boun
as they indicated that they believed there would not be a debt ceiling surpassed those numbers began to drop to where we are right now. that effects you and your packet book. that is your 401k. once again the house speaker saying we may be beginning to see some light at the end of the tunnel. we'll be right back. [[voiceover]] every day, events sweep across our country. and with them, a storm of views. how can you fully understand the impact unless you've heard angles you hadn't considered?...
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Oct 11, 2013
10/13
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MSNBC
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krystal pointed out we had a debt ceiling standoff in 2011, we just had a standoff over this and horrific things happens, stock market went to historic lows. it seems to me a bit strange now we have default or debt ceiling deniers when we have evidence of just threatening the thing is painful enough. >> listen, they can deny it all they want. happy people are birthers. what i do pay attention to are markets. i watch what markets do and like history. when apple looked at what happened in the markets in 2011 when we didn't go over but came close, that tells us something. there's a bigger problem here and that's something not being addressed, the issue of bonds. when you were young, if you're a genx er or mill lennial, you're in high risk markets, stock markets, if you're getting closer to retirement, guess what most of yours is in, low risk, those are bonds. guess what happens if we default, this is a interest rates goes up and every time interest rates go up, bond markets follow. when they fall, they don't come back as quickly as the stock market. all of these old people about to retire, i
krystal pointed out we had a debt ceiling standoff in 2011, we just had a standoff over this and horrific things happens, stock market went to historic lows. it seems to me a bit strange now we have default or debt ceiling deniers when we have evidence of just threatening the thing is painful enough. >> listen, they can deny it all they want. happy people are birthers. what i do pay attention to are markets. i watch what markets do and like history. when apple looked at what happened in...
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Jan 14, 2013
01/13
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FBC
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if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as good a time as any. i don't think they should go all in, draw a line in the sand and shut the government down because the public doesn't know a heck of a lot about this. they could be the recipient of the blame for this. gerri: use a dollar for dollar doesn't work. >> it will not stop the debt from growing as a percent of gdp because the gap is too large. >> i'm not saying it will balance the budget. we have to start the conversation, this is a good place to start making inroads. that is when republicans really have to draw the line in the sand. gerri: you were saying, which i thought was interesting, somewhat at odds with the conservative pundits that has to be some negotiation, give or take on both sides. >> what i said was any increase in taxes on income that would otherwise be invested should be linked to stopping debt from growing as a percent of gdp because i was afraid in the first round of negotiations republicans simply give away tax increases but basically what ha
if you want the debt ceiling raised come at some point we're going to have to address spending cuts. this is as good a time as any. i don't think they should go all in, draw a line in the sand and shut the government down because the public doesn't know a heck of a lot about this. they could be the recipient of the blame for this. gerri: use a dollar for dollar doesn't work. >> it will not stop the debt from growing as a percent of gdp because the gap is too large. >> i'm not saying...
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Jan 8, 2013
01/13
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CNBC
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ceiling and the fiscal cliff, or is there a point that you believe the debt ceiling fight damages the economy? >> i think we're already there, and i think you only need to look back at what happened a year ago or in the summer of 2011 when we hit that ceiling, and, in fact, even paying for it, maria, had a little spike in interest rates that went along with that. had to issue some debt that's still outstanding according to the budget priority center, costing us 18 billion over the last ten years in just in debt costs alone but because it's hurting us right now, maria, doesn't mean it can't get worse and it will probably. i don't know if you saw the small business confidence numbers this morning. they were up 0.5 from one of the lowest levels in 38 years. we have really taken small business optimism and put it in the gutter right now, and so it's a real problem for the economy right now, getting on a correct fiscal track would really have a lot of benefits. >> i mean do, they not understand that? it seems so obvious. >> it strikes me there's a rule they ought to be thinking about it. t
ceiling and the fiscal cliff, or is there a point that you believe the debt ceiling fight damages the economy? >> i think we're already there, and i think you only need to look back at what happened a year ago or in the summer of 2011 when we hit that ceiling, and, in fact, even paying for it, maria, had a little spike in interest rates that went along with that. had to issue some debt that's still outstanding according to the budget priority center, costing us 18 billion over the last...
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Oct 15, 2013
10/13
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ceiling. the senate version touched a little bit of the health care law, but this republican plan pushes back harder, dell. >> have we heard from the point person, senator harry reid on what he might have to say? >> yes, a loud and clear response from democrats both in the house and accept nate. take a listen to senator reid. >> the house republicans leadership plan that is now out is a plan to advance an extreme piece of legislation and nothing more than a blatant attack on y bipartisan ship. >> the white house has also put out a response, that is . . . so you can see there democrats are saying we won't play. here is why this is so crucial. the senate plan can go forward if senate republican leadership can get their members on board and democratic leadership can get their members on board, but the clock is running out to thursday, and if the house has its own plan where do they come together and how can they meet? that's not looking so good, dell. >> thank you very much. >>> the world war ii
ceiling. the senate version touched a little bit of the health care law, but this republican plan pushes back harder, dell. >> have we heard from the point person, senator harry reid on what he might have to say? >> yes, a loud and clear response from democrats both in the house and accept nate. take a listen to senator reid. >> the house republicans leadership plan that is now out is a plan to advance an extreme piece of legislation and nothing more than a blatant attack on y...
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Oct 8, 2013
10/13
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ALJAZAM
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and the imf is weighing in on the debt ceiling debacle. it warns of grave dangers if congress doesn't raise the u.s. borrowing limit. saying that a failure to act could do serious damage to the global economy. the group saying the that america is driving the worldwide recovery, adding we should all continue to see growth if political squabbling doesn't get in the way. >>> one consequence of the shutdown may be victims of domestic violence. kimberly has more. >> reporter: hank runs a shelter for victims of domestic violence in washington, d.c. her program relies on government money to function, and already dealing with a shortage because of federal cuts. but now with the partial shutdown she fears that soon -- >> there won't be anyplace for survivors to run to in an emergency, and more survivors will end up on the streets or end up -- god only knows -- dead as a result of domestic violence because they had no place to go. >> reporter: she estimates she can keep the shelter running for about another two weeks, then the emergency money she re
and the imf is weighing in on the debt ceiling debacle. it warns of grave dangers if congress doesn't raise the u.s. borrowing limit. saying that a failure to act could do serious damage to the global economy. the group saying the that america is driving the worldwide recovery, adding we should all continue to see growth if political squabbling doesn't get in the way. >>> one consequence of the shutdown may be victims of domestic violence. kimberly has more. >> reporter: hank...
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Apr 10, 2013
04/13
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CNBC
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. >> where it leaves us is we need to come up with another short-term deal to raise the debt ceiling later this spring or into the summer when we hit it when treasury runs out of room with emergency measures to increase our borrowing limit so at some point later this spring after we get past the immigration debate and gun control debate we'll get together at the leadership level and with the white house to come up with something that allows for an increase in debt ceiling and maybe cpi gets in there and maybe it doesn't that increases the debt ceiling and takes more out of deficit reduction but 4 trillion over ten years sweeping deal that takes these issues off the table for a while. it will be another short-term fix. >> at the end of the day are republicans going to have to accept again higher taxes and the democrats are going to have to accept cuts and make changes in inflation to the way social security payments are made? is there any alternative to that at the end of the day? >> if you want a grand bargain deal then those are the elements of it, ross. it's just really hard to see
. >> where it leaves us is we need to come up with another short-term deal to raise the debt ceiling later this spring or into the summer when we hit it when treasury runs out of room with emergency measures to increase our borrowing limit so at some point later this spring after we get past the immigration debate and gun control debate we'll get together at the leadership level and with the white house to come up with something that allows for an increase in debt ceiling and maybe cpi...
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Jan 10, 2013
01/13
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CNBC
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that means lew will be the main point person for this debt ceiling drama. so, what does this mean ahead of what is likely to be another hard fight? perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
that means lew will be the main point person for this debt ceiling drama. so, what does this mean ahead of what is likely to be another hard fight? perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something...
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Oct 2, 2013
10/13
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but the debt ceiling in particular, this is 15 days away at sh point. there's a lot of acrimonacrimon. >> since '76, there have been suspect shutdowns. the median duration was four days, but the longest is 21. we're 15 days away from the debt ceiling deadline. it could well be that you're going to try and see the administration shutdown long enough. >> honestly, that makes sense to me. >> it makes total sense. >> you don't want to do these stupid negotiations again and is again. wrap it up in one big deal. >> why do you face armageddon and solve it once and five days later face armageddon again. >> have you saying the debt ceiling is not at an absolute panic point? >> defaulting on the government debt is a panic point. >> what are you so sanguine about, then? >> what's that? >> what are you so sanguine about? >> i feel that if the market doesn't fall into a fans sense of complacency, the market stays steady, focuses on the economic merit because the recovery does continue and doesn't panic, then i think the administration will say, okay, we cannot defau
but the debt ceiling in particular, this is 15 days away at sh point. there's a lot of acrimonacrimon. >> since '76, there have been suspect shutdowns. the median duration was four days, but the longest is 21. we're 15 days away from the debt ceiling deadline. it could well be that you're going to try and see the administration shutdown long enough. >> honestly, that makes sense to me. >> it makes total sense. >> you don't want to do these stupid negotiations again and...
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Oct 13, 2013
10/13
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CNN
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on it, just increase the debt ceiling? >> you know, i think at this point, you know, we had a vote on saturday, yesterday, and it was to just raise it without any restrictions, and we all voted solidly against rsing it without limit and without restrictions. that's what the democrats offered us yesterday. noimit over the next year or year and a half, we raise it as high as it goes, no limits. the american people don't want that. the vast majority of the people are afraid of what this huge growth in our deficit is going to do to us. and so, no, i think we have to restrain. and there are two problems, and they're both problems. it is a problem for the marketplace to see us go through a deadline. but in 2011 when we were downgraded, we were downgraded because of the burden of how big our debt was, not because of getting close to a deadline. the s&p said we not do enough to cut spending and not enough to act fiscally responsible. that's why we were downgraded. it could happen again if we don't wake up and do something to manag
on it, just increase the debt ceiling? >> you know, i think at this point, you know, we had a vote on saturday, yesterday, and it was to just raise it without any restrictions, and we all voted solidly against rsing it without limit and without restrictions. that's what the democrats offered us yesterday. noimit over the next year or year and a half, we raise it as high as it goes, no limits. the american people don't want that. the vast majority of the people are afraid of what this huge...
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Jan 14, 2013
01/13
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along the points that john was just making in terms of the debt ceiling. the treasury secretary now saying he expects to exhaust the extraordinary measures used to fund the government now between mid-february and early march of this year. a bit of clarity on the time frame. treasury secretary coming down pretty hard here on what the effects would be of not raising the debt ceiling saying even a temporary default with a brief interruption in payments that congress restores would be terribly damaging. calling into question the willingness of congress to uphold america's long-standing commitment to meet obligations of the nation in full and on time. default would increase borrowing costs and therefore add to future budget deficits. this letter from the treasury secretary intended to put more political and public pressure on congress to do something on the debt ceiling. so we're seeing the administration across the board acting in a very conservative way today. >> thank you very much. >>> up next, he spent millions of his own money warning about dangers of soc
along the points that john was just making in terms of the debt ceiling. the treasury secretary now saying he expects to exhaust the extraordinary measures used to fund the government now between mid-february and early march of this year. a bit of clarity on the time frame. treasury secretary coming down pretty hard here on what the effects would be of not raising the debt ceiling saying even a temporary default with a brief interruption in payments that congress restores would be terribly...
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Jun 28, 2013
06/13
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ceiling. the higher the debt ceiling goes the higher the price of gold goes and right now, based on that, you know, gold should be around $16 to $1,700. it's trading at 25/30% less than that. >> it's interesting. the debt number the deficit numbers have been lower than had been projected. they continue to drop over ten years, are you talking a massive bug deficit. it's nothing to write home about. it's not nearly as bad as we thought it would be a year ago, two years ago. we seen tax revenue coming in much better than expected? >> yeah, listen to you, not as bad doesn't mean bad is 1.2 trillion dollars. >> i'm not cheering the deficit or the debt. i give you that. i guess market trades on expectations, expectations used to be worse than where it is now. it doesn't make sense the market for dpold has come right back down. >> the other thing to take that look at the monetary policy isn't going to get to us the growth numbers that this country expects. fiscal policy has to get engaged. that's not
ceiling. the higher the debt ceiling goes the higher the price of gold goes and right now, based on that, you know, gold should be around $16 to $1,700. it's trading at 25/30% less than that. >> it's interesting. the debt number the deficit numbers have been lower than had been projected. they continue to drop over ten years, are you talking a massive bug deficit. it's nothing to write home about. it's not nearly as bad as we thought it would be a year ago, two years ago. we seen tax...
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Aug 12, 2013
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the clock is ticking on the debt ceiling. i don't think we're going to default. i think we will have a crazy 11th hour skirmishes. everybody will decide if the u.s. congress is worse than their own worst nightmares. the markets will get hit as a result and it will be worse than the j.c. penney board situation because there will be 2400 or 535 doing like one guy. >> how long does that go on for? the reason i cc is we had a number of analyst, investors come in and say the next month or two will be choppy, given by default, it will be choppy, some say you ride it through, you don't care, don't try to mark your time, others say, hang tight, watch the show, then see what happens. >> well, i think looking at this whole thing, the debt ceiling issue is the bing one. we don't really know the exact day. fannie may and freddie mac gave uncle sam a lot of money worth a couple days or something. i think you have to look past it. if we assume as i do at the great standoff the u.s. will not defacility in its debt. we will make the payment, we'll come out the other side reasona
the clock is ticking on the debt ceiling. i don't think we're going to default. i think we will have a crazy 11th hour skirmishes. everybody will decide if the u.s. congress is worse than their own worst nightmares. the markets will get hit as a result and it will be worse than the j.c. penney board situation because there will be 2400 or 535 doing like one guy. >> how long does that go on for? the reason i cc is we had a number of analyst, investors come in and say the next month or two...
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Jan 15, 2013
01/13
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>> well, we move on a negative watch, if we have effectively a repeat of the august 2011 debt ceiling crisis. as we approach the point where the federal government essentially runs out of cash and is not able to meet its obligations, the rating is going to go on watch. and the outcome of that watch is quite likely end up being a downgrade. >> just to be clear, there is a line in the diary which you put the united states on negative watch? >> well, we think that on current projections as provided by the sufficient treasury department, the federal government will essentially exhaust its cash resources by the end of february. if we have a situation where we're approaching the end of february and it looks as if we're going to run up against that debt line, then we will place the u.s. rating under watch. >> i'm not clear what exactly you're objecting to. whether it's the mechanism that is the debt ceiling, or the rhetoric that surrounds it. because both are in acute focus in august of 2011, and then they didn't worry you enough to do what s&p did, which was downgrade the united states. why
>> well, we move on a negative watch, if we have effectively a repeat of the august 2011 debt ceiling crisis. as we approach the point where the federal government essentially runs out of cash and is not able to meet its obligations, the rating is going to go on watch. and the outcome of that watch is quite likely end up being a downgrade. >> just to be clear, there is a line in the diary which you put the united states on negative watch? >> well, we think that on current...
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Jan 7, 2013
01/13
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on the debt ceiling, i guess i just point out that the market's kind of been twice burned on this on the pessimistic side. whether or not this is the battle royale we've been waiting for here, yob. but two out of the last three times you were better off sitting there and holding unless you had exquisite timing and were able to get in at the bottom. >> let's turn to you rick santelli. i want to get your reaction to what peter says. he says on the debt ceiling we've been here before. we know how this ultimately plays out. and in his words, i don't mean to overstate your case, peter. you did it brilliantly before. it's going to be a piece of cake. how do you see it and traders you're talking to see it? >> they think the rotation out of fixed income into equities is definitely going to continue. but it's going to be like turning a barge in a very small waterway and it's going to take a lot of time. now, just for the first week we see yields are up on the tens. stocks are up about 2%. but don't look for that pace obviously to continue. and in terms of the debt ceiling, i actually in part
on the debt ceiling, i guess i just point out that the market's kind of been twice burned on this on the pessimistic side. whether or not this is the battle royale we've been waiting for here, yob. but two out of the last three times you were better off sitting there and holding unless you had exquisite timing and were able to get in at the bottom. >> let's turn to you rick santelli. i want to get your reaction to what peter says. he says on the debt ceiling we've been here before. we...
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Oct 16, 2013
10/13
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it would also extend the debt ceiling, that's the point at which the government runs out of bargaining power, that was about 12 hours away. instead we can go all the way to february 7th. it is possible, again, that this could come to a vote by noon today. but faxes within the gop has so far left the house with no plan of its own. james clyburn is an assistant leader in the house. he joins us live. >>> can you tell me what you've heard about this and if you know whether or not this may end up being a deal on the house floor within hours? >> thank you so much for having me. yes, i have heard that we will do something today. i'm -- i'm not going to say whether it will be two hours, three hours, or four hours. but i'm making plans for it to happen today. >> and just given the fact that this would be something that has been reached in a bipartisan way in the senate, that will effectively say that there would be enough votes in the house to pass this regardless of what a very conservative faction might think about it. democrats would vote on this if speaker boehner brought it to the floor? t
it would also extend the debt ceiling, that's the point at which the government runs out of bargaining power, that was about 12 hours away. instead we can go all the way to february 7th. it is possible, again, that this could come to a vote by noon today. but faxes within the gop has so far left the house with no plan of its own. james clyburn is an assistant leader in the house. he joins us live. >>> can you tell me what you've heard about this and if you know whether or not this may...
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Jan 7, 2013
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i think the big thing for earnings in general, you talk about the fiscal cliff, the debt ceiling. in the fall of 2011 when mario draghi instituted the operation, that's the point we see markets really start to rally. by doing that he took the chance of a banking collapse off the table. that's why earnings have not fallen off a cliff. the rates of the estimate cuts have been getting less severe. majority of companies are guiding but a lesser rate. that's a positive delta. that's bullish for the market. >> got to love mario and ben, i think. thank you very much. we'll see you soon, guys. appreciate that. >>> looking for an investment option that won't hit you with a tax sticker shock? coming up our bonds expert tells us why muni bonds -- get the notebook out because he'll explain. >>> then life in the fast lane. some ponying up 1.6 million bucks to own a new car that habit even passed u.s. safety tests yet. our wealth editor robert frank takes one for a careful spin. stay with us. ♪ ♪ [ male announcer ] some day, your life will flash before your eyes. ♪ make it worth watching.
i think the big thing for earnings in general, you talk about the fiscal cliff, the debt ceiling. in the fall of 2011 when mario draghi instituted the operation, that's the point we see markets really start to rally. by doing that he took the chance of a banking collapse off the table. that's why earnings have not fallen off a cliff. the rates of the estimate cuts have been getting less severe. majority of companies are guiding but a lesser rate. that's a positive delta. that's bullish for the...
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Jan 19, 2013
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we have two points we can leverage. one is the debt ceiling. the other is the cr that comes due on march 27th. the cr might be a the better place to use that leverage. but one place or another we need to decide that both sides need to come together at the table of common sense and begin to put america on a sustainable course of economics. >> what does a guy like you say then to the tougher parts of the republican party? not as many are in the senate as in the house. you talk about simpson bouls. i agree. most americans would find simpson/bowles a little tough. there are some difficult things in there most republicans and democrats wouldn't even put forward. the vice presidential candidate, paul ryan, was one of those guys on that committee and didn't vote for it. how do we get hard line republicans to say these are tough decisions, they're not going to be palatable, they're way further than most republicans would go in terms of debt spending cuts? >> ali, we have a tough problem. whatever solutions we come up with are going to be tough. but i w
we have two points we can leverage. one is the debt ceiling. the other is the cr that comes due on march 27th. the cr might be a the better place to use that leverage. but one place or another we need to decide that both sides need to come together at the table of common sense and begin to put america on a sustainable course of economics. >> what does a guy like you say then to the tougher parts of the republican party? not as many are in the senate as in the house. you talk about simpson...
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Mar 7, 2013
03/13
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ceiling debate. wow, i mean, that's going to add another 500 points right to the market. and really reinforce the bulls, and that could be the melt-up of the economy. >> i just want to get chanos. you there? is jim listening? >> i've been listening. >> can you help with this perma bowl for a second? is there a question here that needs to be asked that may change our view on how bullish we should really be? maybe you are bullish. i heard you a little bit earlier. >> we don't have a view on the market, andrew. i think the market will go up over time. in that case i'm with the professor on his long-term view. in short-term squiggles and moves who knows. >> well certainly the short run it's very dangerous. i think what's really important, people ask me, well, how much better off are we than five years ago? we just, you know, picked up th that. earnings are higher than october '07. dividends are higher than october '07. the quality of earnings, and this is important, is much higher than october '07. remem
ceiling debate. wow, i mean, that's going to add another 500 points right to the market. and really reinforce the bulls, and that could be the melt-up of the economy. >> i just want to get chanos. you there? is jim listening? >> i've been listening. >> can you help with this perma bowl for a second? is there a question here that needs to be asked that may change our view on how bullish we should really be? maybe you are bullish. i heard you a little bit earlier. >> we...
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Jan 16, 2013
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ceiling as a leverage point of some kind. what do you say? >> well, i think it's absolutely irresponsible that continue to spend like we're spending in washington, d.c. we've gone from borrowing 40 sent out of every dollar we're spending to now at 42 cents of every dollar we're spending and no end in sight. that's the irresponsibility. i think it's unfortunate and really disheartening that we don't -- that we have this even confrontation coming up. why don't we see some leadership out of the democrats and out of president where they say we understand we've got to have spending cuts and actually propose some. they have got some revenue enhancements already. we don't have to have a confrontation. just propose some spending cuts that make some sense, some entitlement reform and we'll move on together. >> right, right. what do you say to the fact that the president now has said this repeatedly, and that is that he's basically saying congress is not going to renege on things that congress approved. if you approved this spending, y
ceiling as a leverage point of some kind. what do you say? >> well, i think it's absolutely irresponsible that continue to spend like we're spending in washington, d.c. we've gone from borrowing 40 sent out of every dollar we're spending to now at 42 cents of every dollar we're spending and no end in sight. that's the irresponsibility. i think it's unfortunate and really disheartening that we don't -- that we have this even confrontation coming up. why don't we see some leadership out of...
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Jan 12, 2013
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going past the debt ceiling i think that's not a great idea. but theoretically there's enough money coming in to pay the debt. you could pay people getting social security. that's really not the point. the point is whether there is at some point are there -- i think there should be actual spending cuts. listen. cut spending today. cut spending tomorrow. but cut spending sometime somewhere. but we're not doing that. >> kathryn, that's the issue. that is the issue. boehner has said one for one. that's his line last year. he got it. although they didn't make the sequester yet. that's all. one for one. why is this wrong? we never want to cut spending. we want platinum stones, platinum cards, platinum gems. we want phony i.o.u.s that will be cashed in so people can go to strip clubs. and now you want to use the 14th amendment which is really using it in vain. why don't we just cut spending one for one as jim mentioned? >> i think that this is a great example of the sort of horrifying prospect that's often held up as goes california so goes the natio
going past the debt ceiling i think that's not a great idea. but theoretically there's enough money coming in to pay the debt. you could pay people getting social security. that's really not the point. the point is whether there is at some point are there -- i think there should be actual spending cuts. listen. cut spending today. cut spending tomorrow. but cut spending sometime somewhere. but we're not doing that. >> kathryn, that's the issue. that is the issue. boehner has said one for...
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Feb 5, 2013
02/13
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moving the debt ceiling negotiations back a little bit we got a bit of a bounce. >> what i mean, you'll probably -- listen, we had the bounce today, down 130 points based on political instability in europe. rally right back, the president going to get through that and talk about long-term cuts. i don't think you'll get much more, we'll be stuck here around 14,000. >> long-term ron barron was on cnbc. he made a pretty outrageous projection, we've all been talking about it down here. let's take a listen to what he had to say. >> i'm expecting 7% average growth for extended period of time since we're below where stocks normally trade. how long will that take? 7% a year, you double your money every 10 years. that means if the stock market is 14,000 now, it could be 28,000 in 10 years and 50 or 60,000 in 20 years. >> ron barron is a very successful money manager. he's made a lot of money for his clients and for himself but that sound bite has a lot of people scratching their heads. >> i checked those numbers on 7%, with or without inflation, i'm not sure the economy's long-term growth at 7%.
moving the debt ceiling negotiations back a little bit we got a bit of a bounce. >> what i mean, you'll probably -- listen, we had the bounce today, down 130 points based on political instability in europe. rally right back, the president going to get through that and talk about long-term cuts. i don't think you'll get much more, we'll be stuck here around 14,000. >> long-term ron barron was on cnbc. he made a pretty outrageous projection, we've all been talking about it down here....
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Jan 15, 2013
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know you recommend spending cuts, but do you believe the gop should be using the debt ceiling as a leverage point to get to the president to agree to the cuts? >> i think that would be a grave mistake. i don't think that would solve anything. i know they are going to try it, and how far they will go with the guam of chicken, i have no idea, but i can tell you can't -- you really can't -- this is stuff that we've already indebted ourselves. i mean, if you're a real conservative, really honest conservative without hypocrisy, you would want to pay your debt, and that's what this is. they are not running up anything new. they are paying off and who can believe -- i mean, they owe $16.4 trillion and by the late caper they did they added 4 trillion to it. i mean, this is madness, but anyway. >> right. >> there are other places to play the bat. can you play that battle at sequester time instead of mindless cuts in defense and non-defense. >> right. >> you can play that game at the continuing resolution which is inside baseball which means you're going to chicken out again and just extend and exten
know you recommend spending cuts, but do you believe the gop should be using the debt ceiling as a leverage point to get to the president to agree to the cuts? >> i think that would be a grave mistake. i don't think that would solve anything. i know they are going to try it, and how far they will go with the guam of chicken, i have no idea, but i can tell you can't -- you really can't -- this is stuff that we've already indebted ourselves. i mean, if you're a real conservative, really...
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Oct 17, 2013
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we were all expecting a crash as the debt ceiling got closer and closer and it never came, and that was because wall street said we are seeing through your shenanigans, washington, d.c. and they were able to take out the politics from the wider debate and focus on what the real issue always was, and it was always clearly reopening the government, but most urgently getting that debt ceiling raised. and wall street never doubted that the debt ceiling wouldn't be raised. so for me that's the remarkable thing, that wall street completely ignored washington, d.c., just set it to one side, and to it? of the opinion that the economists and investors, and market makers are of the opinion that maybe the biggest hurdle to sustain and enhance growth in the u.s. economy are the elected representatives in washington, d.c., based on the fact we could back here in three month's time. >> a lot of that data that we refer to has been backed up because of the shutdown. when is that going to be released? and how will it effect the ma t mafkt -- market? >> that's a good point. there is no piece of informati
we were all expecting a crash as the debt ceiling got closer and closer and it never came, and that was because wall street said we are seeing through your shenanigans, washington, d.c. and they were able to take out the politics from the wider debate and focus on what the real issue always was, and it was always clearly reopening the government, but most urgently getting that debt ceiling raised. and wall street never doubted that the debt ceiling wouldn't be raised. so for me that's the...
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melissa: go ahead, doug. >> i want to point outgoing over the debt ceiling doesn't cut spending. the fact that the treasury doesn't have the money doesn't relief them of the obligation to spend it. it is the law of the land to spend the money. melissa: hang on, guys. hang on. we have to talk one at a time. what it actually says i'm not going to extend you anymore credit until you get your books in order. why should i give you more credit to spend when you haven't figured out how you're going to live within your means? why is that wrong, doug? >> that's right. in fact the fact that the you know, your teenager overspent their credit card doesn't mean you don't pay the bill. melissa: you say i will not raise the limit to get your act together. >> my point if you want to cut spending pass laws to cut spending. hitting debt ceiling doesn't do it. >> we have go different issues. one is the debt ceiling. the second is the sequester. doug is right, debt ceiling expiring doesn't automatically cut spending but the sequester does. cuts across the board manner, social security, medicare and
melissa: go ahead, doug. >> i want to point outgoing over the debt ceiling doesn't cut spending. the fact that the treasury doesn't have the money doesn't relief them of the obligation to spend it. it is the law of the land to spend the money. melissa: hang on, guys. hang on. we have to talk one at a time. what it actually says i'm not going to extend you anymore credit until you get your books in order. why should i give you more credit to spend when you haven't figured out how you're...
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Oct 17, 2013
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>> well, i think first of all it's time to separate the story about the debt ceiling and the government being shut down from the dow jones because you can see at the moment the main market is down around 40 points, and that is because of some companies who are having difficulty in the market today. but really we're back to normal now. the market has put everything behind them and moved on. ta -- president obama talked about the full faith of credit in the united states not being questioned. i think it is being questioned. because people around the world who may have been on the wrong end of not getting their interest payments, they realize that republicans were willing to tie the brink. and jack lew saad the credit reputation is one of the united states greater assets. according to dow jones and also the s&p, the cost lost is around $24 billion. i know laid off workers, the furloughed workers will get back pay eventually, but there is two or three weeks that is gone where they won't be spending money. they won't be taking their sons and daughters to the zoo because now they are running
>> well, i think first of all it's time to separate the story about the debt ceiling and the government being shut down from the dow jones because you can see at the moment the main market is down around 40 points, and that is because of some companies who are having difficulty in the market today. but really we're back to normal now. the market has put everything behind them and moved on. ta -- president obama talked about the full faith of credit in the united states not being...
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Jan 15, 2013
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. >>> the finger pointing has long since started in washington as the debt ceiling key bait speaks up. president obama issued this warning to house republicans during a news conference yesterday. take a listen. >> they will not collect a ransom in exchange for not crashing the american economy. the financial well being of the people is not eleven rafrmged to with used. it is not a bargaining chip. and they'd better choose quickly because time is running short. >> representative lynn jenkins is a republican from kansas. she is also the house republican vice chair. i guess basically i should ask you to respond to the president. >> well, i wish the president would stop campaigns and come over to the hill and have a conversation with us. republicans are willing to work with this situation which is our out of control wasest watt errand spending. >> you'd like to have him -- he sayed yesterday he has a nice pick imevery year. he said this in the wall street toufrpd. it's wrong to think of it as ooh long stamp. those days are onner. that debt limbet is one of the last steps toing tagt tachlk
. >>> the finger pointing has long since started in washington as the debt ceiling key bait speaks up. president obama issued this warning to house republicans during a news conference yesterday. take a listen. >> they will not collect a ransom in exchange for not crashing the american economy. the financial well being of the people is not eleven rafrmged to with used. it is not a bargaining chip. and they'd better choose quickly because time is running short. >>...
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Oct 9, 2013
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the debt ceiling is probably the other really good point of leverage. we can't give that up until we actually have these reforms passed into law. >> what i'm hearing from you -- you're always very candid -- is trust but verify. that's what i'm hearing from you. >> i would say verify and verify. >> okay. thank you. senator ron johnson, wisconsin, we appreciate it, sir. >>> let's bring back our political panel, democratic strategist mark hannah, robert trenhohm and sarah fagen. what did you hear? >> i heard verify and verify. leads me to think there's some optimism but there is some skepticism. one of the challenges the president faces in this upcoming negotiation is there's a sense among republicans that he just wants to break them. and it's politically offensive when you think about that strategy against the backdrop of a debt ceiling. it's one thing to do it on the lilly ledbetter act. >> mark hannah, the president has been so negative on the economy. he's been fear-mongering about if we don't meet all of our governmental obligations, meaning the whole
the debt ceiling is probably the other really good point of leverage. we can't give that up until we actually have these reforms passed into law. >> what i'm hearing from you -- you're always very candid -- is trust but verify. that's what i'm hearing from you. >> i would say verify and verify. >> okay. thank you. senator ron johnson, wisconsin, we appreciate it, sir. >>> let's bring back our political panel, democratic strategist mark hannah, robert trenhohm and...
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they just want to make sure it's clear to this point it's up to congress to raise the debt ceiling and for how long. perhaps conciliatory language, perhaps it could lead to something. we'll have to wait and see. >> jim acosta, thank you for following this. it will be interesting to see how speaker boehner's response to this. they want tax reform. they want entitlement reform. they want something out of this. >> in return. is this a door opening? who knows. yes, can-kicking. >> you heard the numbers, 500,000 government workers still furloughed. in a minute, we're going to meet one of those workers and hear what she has to do just to make ends meet before the paycheck is gone. ell you i am on the... [ both ] chicken pot pie diet! me too! [ male announcer ] so indulgent, you'll never believe they're light. 100-calorie progresso light soups. ♪ hooking up the country whelping business run ♪ ♪ trains! they haul everything, safely and on time. ♪ tracks! they connect the factories built along the lines. and that means jobs, lots of people, making lots and lots of things. let's get your
they just want to make sure it's clear to this point it's up to congress to raise the debt ceiling and for how long. perhaps conciliatory language, perhaps it could lead to something. we'll have to wait and see. >> jim acosta, thank you for following this. it will be interesting to see how speaker boehner's response to this. they want tax reform. they want entitlement reform. they want something out of this. >> in return. is this a door opening? who knows. yes, can-kicking. >>...
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until the debt ceiling issue, washington is a side issue, all of the noise around when you put to table will hopefly not matter a lot to markets. >> to that point, john ellison, heept repeating monetary matter. the federal reserve is only game in town, any hint they sp feeding this with 85 billion a month of buying securities and keeping interest rates as low as they have,hen allets are off. >> i agree, it is interesting, there reasonor stock market to have risen but the market ahead of the economy. we have a lower per capita income since 200 we have challeng in europe, china and india that impactsur economy. it is clear that fed is driving a lot of what is going on in the stock market. while the fed can print money for a while, some day, you have to stop doing that. when it does, you could have a rise in interest rate that would impact the relative investment in stocks, maybe not in june it could be a yearr 2 from n, but, fed policy has to change. neil: you know, pat, i without getting too work. ed out here. one thing i notice in this month of june, its one of the more probletic months
until the debt ceiling issue, washington is a side issue, all of the noise around when you put to table will hopefly not matter a lot to markets. >> to that point, john ellison, heept repeating monetary matter. the federal reserve is only game in town, any hint they sp feeding this with 85 billion a month of buying securities and keeping interest rates as low as they have,hen allets are off. >> i agree, it is interesting, there reasonor stock market to have risen but the market...
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Jan 15, 2013
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but when it comes to using the debt ceiling we had roger altman here earlier this week. his point was why not just use the sequestration which got pushed back to march 1st, use that instead of the debt ceiling so it doesn't sway confidence or concern investors to quite the same extent? >> becky, that's fine. the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest part of the budget and the fastest growing part of the budget. it also, the $1.2 trillion is in the bank because of the discussions we had two years ago. >> you think the democrats would not see that as a credible threat? they would say go ahead, let the sequestration kick in?
but when it comes to using the debt ceiling we had roger altman here earlier this week. his point was why not just use the sequestration which got pushed back to march 1st, use that instead of the debt ceiling so it doesn't sway confidence or concern investors to quite the same extent? >> becky, that's fine. the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if...
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, probably tomorrow, one day before the debt ceiling deadline, at that point if he is willing to put whatever the senate sends him back on the floor and just say, look how many times we tried to put our stamp on this, there's only so much we can do, let's make sure we don't default. >> for the average guy out there, we all have their lives, we're busy with children. we can't follow this every single minute. it seems like a lot of noise come from capitol hill. and ultimately it sounds like something stinks in denmark. that one body wants the other party to be the one that defeats. is there anything to that? >> reporter: i'm not so sure it's that one wants the other to be the one to defeat as much as you should look at the flip side of that coin. which is that particularly in the case of house republicans, they want to be able to say to their conservative constituen constituencies, don't give up. we tried and fought until the last possible minute to get every little bit of what we've been fighting for in here. >> do the math with me. you were explaining throughout the weekend why janua
, probably tomorrow, one day before the debt ceiling deadline, at that point if he is willing to put whatever the senate sends him back on the floor and just say, look how many times we tried to put our stamp on this, there's only so much we can do, let's make sure we don't default. >> for the average guy out there, we all have their lives, we're busy with children. we can't follow this every single minute. it seems like a lot of noise come from capitol hill. and ultimately it sounds like...